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HomeMy WebLinkAbout1983-1443 - Ordinance - 08/15/1983ORDINANCE NO. 1443 ORDINANCE CANVASSING RETURNS AND DECLARING RESULTS OF BOND ELECTION AND DECLARING THAT SAID ORDINANCE SHALL BE EFFECTIVE IMMEDIATELY UPON ITS ADOPTION WHEREAS, on the 6th day of July, 1983, the City Council of the city of College Station, Texas, adopted an ordinance calling an election to be held in said City on the 13th day of August, 1983, for the purpose of submitting to the duly qualified resident electors of said city for their action thereupon the following propositions, to-wit: PROPOSITION NO. 1 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $4,950,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? PROPOSITION NO. 2 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $9,500,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING SANITARY SEWER SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE 03.93Z Ordinance No. 1443 THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? PROPOSITION NO. 3 SHALL ~ CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,920,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PUl{POSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING ELECTRIC UTILITY SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? PROPOSITION NO. 4 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,210,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING WATER, SANITARY SEWER AND ELECTRIC UTILITY SYSTEMS BY CONSTRUCTING OR PURCHASING A UTILITY SERVICE CENTER BUILDING; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE T~E PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ~L~CTRIC LIGHT A/{D POW]~R SYSTEM? PROPOSITION NO. 5 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL -2- Ordinance No. 1443 CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING WATERWORKS SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT. THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? PROPOSITION NO. 2 SHALL ~ CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $9,500,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING SANITARY SEWER SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING THE NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM? PROPOSITION NO. 3 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE REVENUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $2,920,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF EXTENDING AND IMPROVING THE CITY'S EXISTING ELECTRIC UTILITY SYSTEM; SAID BONDS TO BE ISSUED IN ACCORDANCE WITH AND SECURED IN THE MANNER PROVIDED IN ARTICLES 1111 TO 1118, BOTH INCLUSIVE, VERNON'S TEXAS CIVIL STATUTES, AS AMENDED; AND TO SECURE THE PAYMENT OF THE INTEREST ON SAID BONDS AS IT ACCRUES AND THE PRINCIPAL OF SAID BONDS AS THEY MATURE BY PLEDGING £H~ NET REVENUES FROM THE OPERATION OF THE CITY'S WATERWORKS SYSTEM, SANITARY SEWER SYSTEM AND ELECTRIC LIGHT AND POWER SYSTEM; EACH BOND TO BE CONDITIONED THAT THE HOLDER THEREOF SHALL NEVER HAVE THE RIGHT TO DEMAND PAYMENT OF SAID OBLIGATION OUT OF ANY FUNDS RAISED OR TO BE RAISED BY TAXATION; AND SAID BONDS TO BE ON A PARITY IN ALL RESPECTS WITH THE OUTSTANDING BONDS OF SAID CITY PAYABLE FROM THE NET REVENUES OF SAID WATERWORKS 0 984 Ordinance No. 1433 NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONUS ARE ISSUED, ALL AS SHALL BE DETERMINED BY SAID CITY COUNCIL, FOR THE PURPOSE OF MAKING PERMANENT PUBLIC IMPROVEMENTS, TO-WIT: CONSTRUCTING IMPROVEMENTS TO APPOMATTOX DRIVE, ONE OF THE STREETS IN SAID CITY, INCLUDING NECESSARY DRAINAGE IN CONNECTION THEREWITH, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONUS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONUS AS THEY MATURE? PROPOSITION NO. 9 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONUS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $11,490,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONUS ARE ISSUED, ALL AS SHALL BE DETER- MINED BY SAiD MANENT PUBLIC TO STREETS IN lNG NECESSARY AN ANNUAL TAX SUFFICIENT TO AND TO CREATE OF SAID BONUS CITY COUNCIL, FOR TBE PURPOSE OF MAKING PER- IMPROVEMENTS, TO-WIT: CONSTRUCTING IMPROVEMENTS SAID CITY OTHER THAN APPOMATTOX DRIVE, INCLUD- DRAINAGE IN CONNECTION THEREWITH, AND TO LEVY ON ALL TAXABLE PROPERTY WITHIN SAID CITY PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL AS THEY MATURE? PROPOSITION NO. l0 SHALL THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONUS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,930,000, MATURING SERIALLY WITHIN 30 YEARS FROM THEIR DATE OR DATES, AND BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF EXCAVATING, CLEANING, DEEPENING AND WIDENING DRAINS AND DITCHES AND THE PURCHASE OF PUMPS, PIPES, MOTORS AND OTHER EQUIPMENT, APPARATUS AND FACILITIES FOR THE DRAINAGE OF SURFACE AND FLOOD WATERS FROM SAID CITY, AND TO LEVY AN ANNUAL TAX ON ALL TAXABLE PROPERTY WITHIN SAID CITY SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONUS AS THEY MATURE? WHEREAS, the duly qualified resident electors of said City cast the following votes, respectively, at said election on said propositions, to-wit: PROPOSITION NO. 1 FOR THE ISSUANCE OF $4,950,000 WATERWORKS SYSTEM IMPROVEMENT REVENUE BONDS AGAINST THE ISSUANCE OF $4,950,000 WATERWORKS SYSTEM IMPROVEMENT REVENUE BONDS 773 VOTES 640 VOTES Ordinance No. 1443 PROPOSITION NO. 2 FOR THE ISSUANCE OF $9,500,000 SANITARY SEWER SYSTEM REVENUE BONDS AGAINST THE ISSUANCE OF $9,500,000 SANITARY SEWER SYSTEM REVENUE BONDS PROPOSITION NO. 3 FOR THE ISSUANCE OF $2,920,000 ELECTRIC UTILITY SYSTEM REVENUE BONDS AGAINST THE ISSUANCE OF $2,920,000 ELECTRIC UTILITY SYSTEM REVENUE BONDS PROPOSITION NO. 4 FOR THE ISSUANCE OF $3,210,000 UTILITY SERVICE CENTER REVENUE BONDS AGAINST THE ISSUANCE OF $3,210,000 UTILITY SERVICE CENTER REVENUE BONDS PROPOSITION NO. 5 FOR THE ISSUANCE OF $3,000,000 WATER AND SEWER LINE PARTICIPATION REVENUE BONDS AGAINST THE ISSUANCE OF $3,000,000 WATER AND SEWER LINE PARTICIPATION REVENUE BONDS PROPOSITION NO. 6 FOR THE ISSUANCE OF $4,880,000 PUBLIC BUILDINGS TAX BONDS AGAINST '£t~ ISSUANCE OF $4,880,000 PUBLIC BUILDINGS TAX BONDS PROPOSITION NO. 7 FOR THE ISSUANCE OF $4,075,000 PARK IMPROVEMENT TAX BONDS AGAINST THE ISSUANCE OF $4,075,000 PARK IMPROVEMENT TAX BONDS PROPOSITION NO. 8 FOR THE ISSUANCE OF $2,220,000 APPOMATTOX DRIVE IMPROVEMENT TAX BONDS AGAINST THE ISSUANCE OF $2,220,000 APPOMATTOX DRIVE IMPROVEMENT TAX BONDS PROPOSITION NO. 9 FOR THE ISSUANCE OF $11,490,000 OTHER STREET IMPROVEMENT TAX BONDS 1081 355 727 684 954 490 719 721 618 813 584 858 706 746 681 VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES VOTES -5- 03936 Ordinance No. 1443 AGAINST THE ISSUANCE OF $11,490,000 OTHER STREET IMPROVEMENT TAX BONDS PROPOSITION NO. FOR THE ISSUANCE OF $1,930,000 DRAINAGE IMPROVEMENT TAX BONDS 10 768 VOTES 1009 VOTES AGAINST THE ISSUANCE OF $1,930,000 DRAINAGE IMPROVEMENT TAX BONDS 444 VOTES as shown in the official election returns heretofore duly submitted to said City Council and filed with the City Secretary; therefore, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION: 1. That the City Council officially finds and determInes that the bond election held in and throughout the City of College Station, Texas, on the 13th day of August, 1983, which election is more particularly described in the preamble to this ordinance, was duly called and notice thereof duly given in accordance with law; that said election was duly held in the manner required by law and that the returns of the election have been duly delivered to the C~ty Council and it has duly canvassed the same. 2. That said election has resulted favorably to the adoption of Propositions Nos. 1, 2, 3 and 4 providing for the issuance of revenue bonds for various waterworks system, sanitary sewer system and electric utility system improvement purposes; and that more than a majority of the duly qualified resident electors who voted in said election voted for the issuance of said bonds. 3. That said election has resulted favorably to the adoption of Proposition No. 10 providing for the issuance of tax bonds for drainage improvement purposes; and that more than a majority- of the d~i~ qualified resident electors of the City who voted in the election voted for the issuance of said bonds. -6- 03937 Ordinance No. 1443 4. That the City Council is now authorized to issue all of the bonds described in said Propositions Nos. 1, 2, 3 and 4 and to pledge the net revenues from the operation of the City's Waterworks System, Sanitary Sewer System and Electric Light and Power System to secure payment thereof, is now authorized to issue all of the bonds described in said Proposition No. 10 and to a levy, assess and collect the tax in payment thereof, and is now authorized to do any and all things necessary and convenient in connection therewith. 5. That said election has resulted in the defeat of Proposition No. 5 providing for the issuance of water and sewer line participation revenue bonds and in the defeat of Propositions Nos. 6, 7, 8 and 9 providing for the issuance of tax bonds for public building, park improvement and street Improvement purposes and that the City Council shall have no authority whatsoever to issue the bonds specified in said Propositions Nos. 5, 6, 7, 8 and 9 or to take any other action in respect thereof. 6. That this ordinance shall take effect and be in full force upon and after its adoption. PASSED AND APPROVED this 15th day of August, 1983. ATTEST: City Secretary, City of College Station, Texas [SeaL] RDR:22:P Station, Texas